Banks and Associates, Inc.Certified Public Accountants and Business Advisors
(301) 277-1003
(301) 560-8854

Contact Info

  • Banks & Associates, Inc
  • 5634 Annapolis Rd,
  • Bladensburg, MD 20710
  • (301) 277-1003
    (301) 560-8854

Client Services

Our firm offers a wide range of services to our individual, business and not-for-profit clients. Because our firm is relatively small. Our clients benefit by receiving personalized quality service that is beyond comparison. Below we have listed the services that we offer to our clients along with a brief description.

This list is by no means all-inclusive, please feel free to inquire about a service if you do not see it here. If it is not a service we provide, we would be more than happy to refer you to a qualified professional.

  • Audits, Reviews and Compilations
  • Forensic Accounting
  • Financial Statements Accounting Services
  • Bookkeeping/Write-Up
  • Accounting Software Selection & Implementation
  • Consulting Services
  • Business Consulting
  • Business Entity Selection
  • Estate Planning
  • Financial Planning
  • Retirement Planning
  • Payroll Services
  • Tax Services
  • Tax Planning
  • Estate & Trust Tax Preparation
  • Sales Tax Services
  • IRS Representation

Accounting Services

Audits, Review and Compilation

We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company's profitability and efficiency. We provide financial reporting on all three levels of assurance:

  • Audit - an intensive examination with the highest level of assurance
  • Review - some analytical procedures conducted with limited assurance
  • Compilation - based upon client information provided and used primarily for internal use.

Providing financial information to our clients in a timely and accurate manner is a commitment that we feel cannot be compromised. Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis. Our firm provides a full range of cost effective accounting services including the following:

  • General ledger & financial statement preparation
  • Bookkeeping (Monthly Quarterly/Annual)
  • Accounting system set-up for new businesses
  • Computerized payroll services
  • Business tax return preparation (Sales & Use Business Property)
  • Personal financial statements
  • Litigation support

Forensic Accounting

We use accounting and auditing skills to provide an analysis of financial records in conjunction with dispute resolutions, as well as fraud and theft investigation. Our damage measurement methods can determine the extent of financial loss and illegal accounting practices.


Financial Statements

We can assist you in the preparation of your financial statements in accordance with professional standards, but express no opinion of any other form of assurance on the underlying information included in them. The financial statements produced can be a useful tool for management for making financial decision.


Bookkeeping/Write-Up

Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis and are the foundation of a successful business. Our qualified staff can assist you with the day-to-day tasks associated with bookkeeping.


Consulting Services

We gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business. The following is just a few of the areas in which we provide consulting services.

  • Accounting software selection and implementation
  • Type of entity selection
  • Buying/selling a business
  • Computer systems
  • Financial & retirement decision
  • Estate, trust & gift planning

Business Consulting

We gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business.


Business Entity Selection

Choosing the form of entity of your business (e.g., "S" Corporation, Sole proprietor, Limited Liability Company…) is a crucial decision that can have longstanding tax implications, positive or negative. We can assist you in evaluating the pros and cons of each entity type to help you determine the most advantageous form of business for your company.


Estate Planning

Effective estate planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order.


Financial Planning

A properly structured financial plan enables you to face any financial challenge that may present itself at each state of your life. Through the financial planning process, we can help you assess your financial needs and develop strategies that will enable you to achieve your goals and strengthen your financial security.


Retirement Planning

Successful implementation and periodic review of your financial plan will ensure financial independence during your working years and through your retirement years.


Payroll Services

As a business grows, it must hire more employees, which can result in increased payroll administration. We can assist you in implementing the controls necessary to ensure a reliable, efficient, and effective payroll system. Our firms can also help you develop a payroll system and prepare all necessary payroll tax returns in a timely manner.


Tax Services

We prefer to take a proactive vs. reactive approach to tax services. By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities to minimize both your current and future tax liabilities. We provide our individual and business clients with the taxation expertise and knowledge that they deserve throughout the year. Tax services offered include, but not limited to:

  • Tax planning & Return Preparation for: Individuals, Corporations, and Partnerships
  • LLCs/LLPs, Estates, Trusts & Gift, Not-for-profit Organizations
  • Taxing Authority Representation
  • Divorce and Support Issues
  • Tax effects of Buying/Selling a Business

Tax Preparation

Our significant investment in computerized tax preparation and research software enables us to accurately and efficiently prepare returns for various types of entities including individuals, corporations, partnerships, trusts, estates, and not-for-profit organizations. We make full use of electronic filing federal and statement authorities.


Tax Planning

Tax planning is an essential element of the tax preparation process. By making tax planning part of your overall business strategy, you can use our experience and access to the most current new developments in the tax laws to minimize both your current and future tax liabilities.


Estate & Trust Tax Preparation

Effective estate and gift planning facilitates the orderly transfer of assets to your beneficiaries, provide security for your surviving spouse, and can refute or eliminate the tax due on the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order.


Sales Tax Services

Many of our clients are responsible for collecting and submitting sales taxes in many different jurisdictions. We can assist your company in the compilation of information and preparation of sales tax returns in an efficient and timely manner.


IRS Representation

During our years of experience dealing with many taxing authorities, we have achieved a level of competence that can ensure our clients they are being properly represented before the various federal and state tax agencies

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